Gold Video of the Day: Dennis Gartman “Likes” Gold

Yes, Dennis Gartman is an unqualified gold bull. He’s so bullish that he finds it difficult to imagine anything stopping the bull run to the equivalent of almost $2400 per ounce – a rise in excess of 30%. That’s bullish. Of course, in true, Gartman-ish fashion, he doesn’t say when that might occur. As in, “The Cubs will score 15 runs” (I know, absurd example). When? Don’t worry, when it happens, I predicted it.

Rising interest rates won’t stop gold, according to Dennis, because the Fed has promised never to raise them again. Central bank gold sales? Just because central banks sold gold for twenty five years and those of Europe are under extreme pressure – well, the probability of that happening is a negligible 2%. Dennis has even noted that they’re having difficulty resolving the EuroMess. Presumably, that’s the kind of inside info that readers of The Gartman Letter are privy to. And what of the currency wars? Don’t matter, Dennis likes gold. 

Of course, one may also like a daffodil without buying it. So here’s our prediction. If Gartman is sooooooooo bullish now (unlike last month) we’re probably about to be hit with a correction. When that next correction happens, Dennis will sell at the bottom while forecasting 800 – in Euro terms. That’s what he does. And that’s why we call him, The Panicky Dennis Gartman.